Inflation in Saudi Arabia remained elevated at 4.3% y/y in March due to the electricity and water tariff hikes earlier in the year and, more recently, last month’s hike in tobacco import duties. These factors will keep the headline rate high this year but, with economic growth slowing sharply, we think underlying price pressures should weaken in the coming quarters.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.